Benzinga | Jan 12, 2022 01:10PM EST

Looking At Snowflake's Recent Whale Trades

A whale with a lot of money to spend has taken a noticeably bullish stance on Snowflake.

Looking at options history for Snowflake (NYSE:SNOW) we detected 14 strange trades.

If we consider the specifics of each trade, it is accurate to state that 57% of the investors opened trades with bullish expectations and 42% with bearish.

From the overall spotted trades, 4 are puts, for a total amount of $200,280 and 10, calls, for a total amount of $1,029,706.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $200.0 to $330.0 for Snowflake over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Snowflake's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Snowflake's whale trades within a strike price range from $200.0 to $330.0 in the last 30 days.

Snowflake Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestSNOW CALL TRADE BULLISH 03/18/ $330.00 $238.0K 5.0K 1.3K 22SNOW CALL TRADE BULLISH 03/18/ $330.00 $230.0K 5.0K 1.1K 22SNOW CALL TRADE BULLISH 03/18/ $330.00 $209.8K 5.0K 837 22SNOW CALL TRADE BEARISH 03/18/ $270.00 $93.5K 62 17 22SNOW PUT TRADE BEARISH 01/20/ $300.00 $84.7K 384 16 23

Where Is Snowflake Standing Right Now?

* With a volume of 2,301,730, the price of SNOW is up 3.49% at $311.77.

* RSI indicators hint that the underlying stock may be approaching oversold.

* Next earnings are expected to be released in 49 days.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.